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Jan 15, 2013
01/13
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the problem is we deficit spend about 3 to 4 billion dollars a day. we collect, we spend about 10 billion a day and that means that we deficit. we have to borrow 3 to 4 billion dollars a day. we spend more than 700 million dollars a day in interest on a national debt. there are lots of things to do. the president has lots of discretion to curb back that spending to make sure that social security payments are paid, interest is paid we don't default on our debt. >> greta: you know, when he voted as a u.s. senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we
the problem is we deficit spend about 3 to 4 billion dollars a day. we collect, we spend about 10 billion a day and that means that we deficit. we have to borrow 3 to 4 billion dollars a day. we spend more than 700 million dollars a day in interest on a national debt. there are lots of things to do. the president has lots of discretion to curb back that spending to make sure that social security payments are paid, interest is paid we don't default on our debt. >> greta: you know, when he...
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Jan 14, 2013
01/13
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FOXNEWSW
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we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model year newer. learn about it at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressial republicans refuse to pay america's bills op time, social security checks and veteran benefits will be delayed. we might not be able to pay our troops, or honor contracts with the small business owners. food inspeckors, air traffic controllers. specialist wos track down loose nuclear teles wouldn't get their paychecks. invesors around the world will ask i
we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model...
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Jan 17, 2013
01/13
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FBC
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is for the two sides to get together to come up with a comprehensive debt and deficit reduction plan. the debt ceiling and all around it doesn't really solve the problem. it is a waste of time. adam: let me interrupt you because we have had this debt ceiling essentially part of our discussion for almost 100 years, going back to 1917 with the issue of liberty bonds. now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to this craziness we see the market reacting in a way you can't anticipate. what would happen to our 401(k) if congress he said they have to get together, i was thinking two words, "good luck." whether they can't do something? >> if they don't raise the debt ceiling and let's say we get debt downgrades, the market has a fit basically and drops as they did in 2011, all our investments will get hit. the stock market will go down as it did in a big way in the summer of 2011. on the other hand, if they extend the limits, the debt ceiling limit and do something more, maybe not a grand compromise, somet
is for the two sides to get together to come up with a comprehensive debt and deficit reduction plan. the debt ceiling and all around it doesn't really solve the problem. it is a waste of time. adam: let me interrupt you because we have had this debt ceiling essentially part of our discussion for almost 100 years, going back to 1917 with the issue of liberty bonds. now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to...
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Jan 18, 2013
01/13
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FBC
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if we don't get at military industry complex, and social insurance we're kidding ourselves, the deficits will grow. neil: then what. i don't see anything being done. >> i think that is why i say the budget is a doomsday machine, we face a permanent fiscal cliff of 8% gdp gap. i see a constant political battle, every year there will be a deb debt ceiling crisis. neil: what do you think of the president? >> you know you can't have a dictate adictatorship, you havea bad blow up in financial markets. neil: is that coming? >> i do think so, a blame bernanke more than anybody else for the mess, when he said you can borrow money for 3 years to pay federal deficit at 30 basis points that is a rounding error to congress ha is zero, why is anyone going to stand up to social insurance, military industrial complex, the subsidies this bill, 60 billion boondoggle they passed for relief, who'll stand up to that stuff, when the great man, and said i'll take care of it, i'll keep interest at rock bottom. i'll print the money, i'll buy the bond. until we have a house cleaning in the fed, until we get rid
if we don't get at military industry complex, and social insurance we're kidding ourselves, the deficits will grow. neil: then what. i don't see anything being done. >> i think that is why i say the budget is a doomsday machine, we face a permanent fiscal cliff of 8% gdp gap. i see a constant political battle, every year there will be a deb debt ceiling crisis. neil: what do you think of the president? >> you know you can't have a dictate adictatorship, you havea bad blow up in...
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71
Jan 16, 2013
01/13
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CSPAN2
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eye 71
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the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right. i think that makes it very difficult to handle the problems that we have before us. let me comment briefly on where we are. you offer the president yesterday. we have had spending cuts of a trillion and a half dollars. it comes from the budget control act. we have a trillion and a half of spending cuts. essentially in terms of deficit reduction, and has over 600 billion. the account interest, we have essentially of a deficit reduction of $2.5 trillion. the president set a goal of an additional $1 trillion in deficit reducti
the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right....
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Jan 15, 2013
01/13
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extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a very serious issue. currently, the social security retirement is as a pay as you go system that provides more annual benefits than the payroll tax collects. if left alone, this eventually will need to insolvency, particularly with the rapidly increasing number of baby boomers who are retiring every day as was referred to by mya and louis. i don't have the programmatic expertise to suggest the right solutions, but it's important to analyze the acceptable message to assure that these programs can be available to future retirees
extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a...
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Jan 16, 2013
01/13
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CSPAN2
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it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that it's not as concerning as it was when you raised that term initially? >> as i said, the fiscal cli
it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that...
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Jan 14, 2013
01/13
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MSNBCW
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and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a financial disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here, they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. the financial well being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. the last time republicans in congress even flirted with this idea our aaa credit rating was down graded for the first time in our history, our businesses created the fewest jobs of any mont
and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. as the speaker said two years ago, it would be, and i'm quoting, speaker boehner now, a financial disaster not only for us but for the worldwide economy. so we've got to pay our bills. and republicans in congress have two choices here, they can act responsibly and pay america's bills or they can act...
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Jan 14, 2013
01/13
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KQED
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we'd be looking at deficits. >> $6 billion to $8 billion. >> yes. basically what we have in this budget proposal, what the governor's put forth is essentially $4.1 billion more just to k-12 and higher education. breaks down roughly to about $1 billion to higher ed and $2.7 billion more going in in this forthcoming budget year for k-12. that money and the money that has been, has shored up this year's figures would be gone. it would not be there. and we'd be at the historic low spending that we have had for years. frankly, you know, he's contemplating having $2,700 more state funding per student by 2016-2017. we've been on the decline for that for years. we're somewhere down around 4 44t9th in per student state spending. this is going to lift us out of the pit. >> it has potential. people are looking the at this potential and say this could be the real deal but we have to wait to see the real numbers. >> exactly. >> it has been praised by a lot of people. >> from both sides of the aisle. >> both sides. the good news there, there's more good news, rig
we'd be looking at deficits. >> $6 billion to $8 billion. >> yes. basically what we have in this budget proposal, what the governor's put forth is essentially $4.1 billion more just to k-12 and higher education. breaks down roughly to about $1 billion to higher ed and $2.7 billion more going in in this forthcoming budget year for k-12. that money and the money that has been, has shored up this year's figures would be gone. it would not be there. and we'd be at the historic low...
SFGTV2: San Francisco Government Television
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Jan 21, 2013
01/13
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SFGTV2
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our budget, we have a mess, i inherited a budget deficit of $26 billion. we have cut that substantially. from the mortgage meltdown that occurred because of the bad decisions and this behavior throughout our economy, the revenue in california is up 23%. that is a big number. america, the asset values were destroyed, something like $7 trillion. a lot of that was a bubble. that was popped and resulted -- we have had to manage a difficult situation. even before the bubble popping, there was excess. because the money flows in in a regular amounts, when money is good, everybody feels good. when $14 billion came in, they thought they were king of the mountain and spend it. arnold came in to clean it up. a couple years later, he left town and $26 billion this year. this has been the nature for the last decade, kicking the can down the road. not talking straight. the way it is. the way it is, it is a tale of two cities. there is fabulous wealth and link electronics, inc. model number: pdr-885 software version: 3.0c in some places it would be food or shelter or lov
our budget, we have a mess, i inherited a budget deficit of $26 billion. we have cut that substantially. from the mortgage meltdown that occurred because of the bad decisions and this behavior throughout our economy, the revenue in california is up 23%. that is a big number. america, the asset values were destroyed, something like $7 trillion. a lot of that was a bubble. that was popped and resulted -- we have had to manage a difficult situation. even before the bubble popping, there was...
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Jan 15, 2013
01/13
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MSNBCW
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what's amazing is that people are now more concerned with the deficit and our dysfunctional government than they are with unemployment. the first time since 2009. >>> there's a troubling new statistic from the department of defense involving u.s. service members. the number of suicides in the military surged to a record high of 349 last year. that's according to the associated press. that exceeds the 295 americans who died fighting in afghanistan in 2012. >>> the military has launched a number of new programs to improve mental health services and increase awareness of the problem which the pentagon has now labeled an epidemic. >>> there's an unlikely voice entering the obesity debate. with local governments considering measures similar to mayor bloomberg's crackdown on large sugary drinks in new york city, soda giant coca-cola now stepping into the conversation. coke has unleashed a new ad campaign that defends its record while acknowledging the company's role when it comes to america's weight problem. nbc's chris jansing with the details. ♪ ♪ teach the world to sing to perfect har
what's amazing is that people are now more concerned with the deficit and our dysfunctional government than they are with unemployment. the first time since 2009. >>> there's a troubling new statistic from the department of defense involving u.s. service members. the number of suicides in the military surged to a record high of 349 last year. that's according to the associated press. that exceeds the 295 americans who died fighting in afghanistan in 2012. >>> the military has...
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Jan 20, 2013
01/13
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FOXNEWS
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combines tough spending cuts with the balanced way to row deuce the deficit -- to reduce the deficit that, of course, includes revenue. includes asking the wealthiest americans in particular to pay their fair share. >> we have been on that issue and the republicans say that issue is behind us when it comes to taxs. >> take a look at what is in the package in terms of spending. additional savings from medicare and medicaid in it. savings from agricultural sub is sidis. the president already signed a trillion dollars of deficit reduction into law and committed to more spending cuts but we can't just cut our way to prosperity. we have toasting to invest in things like -- we have to continue to invest in things like education and energy. he put reducing the deficit in a balanced way to promote jobs for middle class families and that is going to be his guiding principle through the negotiations. >> i want to ask you quickly about the republican idea. would you support it but with the caveat they are telling the senate you haven't passed a budget in more than three years and you need to do
combines tough spending cuts with the balanced way to row deuce the deficit -- to reduce the deficit that, of course, includes revenue. includes asking the wealthiest americans in particular to pay their fair share. >> we have been on that issue and the republicans say that issue is behind us when it comes to taxs. >> take a look at what is in the package in terms of spending. additional savings from medicare and medicaid in it. savings from agricultural sub is sidis. the president...
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Jan 14, 2013
01/13
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CSPAN2
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we don't have that capability in the federal government to add to the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is -- >> guest: the technology aspect is manifold. in the last four years alone, the solar industry has gotten on what they call a moore's law curve meaning price performance improves by roughly two times every 18-24 months. in the last four years, we've gotten ourselves in an innovation cycle in batteries so that by the end of 2020 electric vehicles actually will be price competitive with gas-driven cars. the problem with these things is that we can't wait. we can't wait because of the environmental effects, and we can't wait because we need the economy to grow quickly right now. so the book lays out a whole bunch of different ideas for bringing private investment much, much more quickly into the job of rebuilding the power plant. >> host: reed hundt, recently on this policeman james glans was on this program. he's written
we don't have that capability in the federal government to add to the deficit. so you have to open the door to private investment to do this job of rebuilding the power platform in the united states. >> host: and the technology aspect of that is -- >> guest: the technology aspect is manifold. in the last four years alone, the solar industry has gotten on what they call a moore's law curve meaning price performance improves by roughly two times every 18-24 months. in the last four...
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Jan 14, 2013
01/13
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FBC
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eye 214
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their rubies smaller running deficits but that was the course scope and size issue. they said it is semantics but that is not the case. lori: do they not like him because he is a tough negotiator? >> that is part of it. >> except john kerry every nomination is criticized even in hagel is not good enough. so the backdrop of the obama was working in with a first term and dynamics were different but that was a solid choice and we could have huge ffghts ahead of us. >> with the cuts coming he no -- we know he will support the spending increase. republicans argue the days of the surplus are long gone. he is in favor of a total reform? >> isn't that much tougher fight? >> it will be fight right -- jeff regardless. he has seen it done before. with 1983 james baker sat down with tip o'neill at 9:00 tonight and signed the final agreement. we don't have that environment anymore. maybe that is good for the sunshine law but with intense media scrutiny and day-to-day negotiations it is tougher to get the deal done. i would like for them to go to camp david for one week. lori: wit
their rubies smaller running deficits but that was the course scope and size issue. they said it is semantics but that is not the case. lori: do they not like him because he is a tough negotiator? >> that is part of it. >> except john kerry every nomination is criticized even in hagel is not good enough. so the backdrop of the obama was working in with a first term and dynamics were different but that was a solid choice and we could have huge ffghts ahead of us. >> with the...
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Jan 18, 2013
01/13
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CSPAN
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eye 54
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., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't come here to about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do something
., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. talk didn't...
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Jan 20, 2013
01/13
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CSPAN
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two issues that you put on the table that the present will be facing, immigration, the debt and deficit. >> that is absolutely true, these will be two big issues. on the gun-control issue, but no one is talking about taking everyone's guns away. they are talking about sensible, common-sense measures to prevent some of the tragic incidents we have seen recently, in newtown, aurora, colorado. i think there will be time to get into the thick of these issues after tomorrow, but tomorrow will be a chance for the president, really, to bring the country together and say we need to reach common ground on some of the major problem we face. >> you were inside the bush white house. the president put on the table two big domestic agenda items, immigration reform, primarily because his own party said no, and social security reform. >>what advice would you give president obama, based on the lessons that you saw firsthand with president bush? >> the advice i would give to him is you cannot go wrong by doing what you promised you would do, by pressing the agenda and you promised the voters you promised
two issues that you put on the table that the present will be facing, immigration, the debt and deficit. >> that is absolutely true, these will be two big issues. on the gun-control issue, but no one is talking about taking everyone's guns away. they are talking about sensible, common-sense measures to prevent some of the tragic incidents we have seen recently, in newtown, aurora, colorado. i think there will be time to get into the thick of these issues after tomorrow, but tomorrow will...
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110
Jan 15, 2013
01/13
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CSPAN
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eye 110
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the deficit. so it should not be surprising, given all the talk, the it the american people think washington is hurting rather than helping the country at the moment. they see their representatives concerned over paying the bills while they overwhelmingly want to focus on growing the economy and creating more jobs. so let's finish this debate and give it businesses and the world the certainty our economy and reputation are still second to none of. we pay our bills. we handle our business, and then we can move on, because america has a lot to do. we have to create more jobs, boost the wages of those that have worked and reached for energy independence, reformed immigration system. we have to give our children the best education possible and do everything we can to protect them from the horrors of gun violence. i am grateful to vice president biden for his work on this issue of gun violence and for his proposals, which i will review later today and address in the next few days and intend to vigorous
the deficit. so it should not be surprising, given all the talk, the it the american people think washington is hurting rather than helping the country at the moment. they see their representatives concerned over paying the bills while they overwhelmingly want to focus on growing the economy and creating more jobs. so let's finish this debate and give it businesses and the world the certainty our economy and reputation are still second to none of. we pay our bills. we handle our business, and...
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112
Jan 19, 2013
01/13
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CSPAN2
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eye 112
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cities cannot and budget deficits. what happens when you something like the great recession quite cities all over the country having to scale back because they can't run budget deficits. exactly which you don't want to do a scaled-back local employment during the economic downturn. this is a huge thing. the department of justice program provides grants to local law enforcement to hire more police. the program could easily be 20 or 30 times its billion dollars a year size. it would be one of the most productive things the federal government could do to make progress in this area. >> we agree. i think what the professor just outlined in the latter part of what he said is go after illegal gun markets. were talking about people balanced or selling guns to felons, people engaged in gun sales that are illegal under any interpretation of the law and go after criminal people with records who are carrying guns illegally. that's been done in cooperation in chicago. i think the important thing is to find ways to go after the crim
cities cannot and budget deficits. what happens when you something like the great recession quite cities all over the country having to scale back because they can't run budget deficits. exactly which you don't want to do a scaled-back local employment during the economic downturn. this is a huge thing. the department of justice program provides grants to local law enforcement to hire more police. the program could easily be 20 or 30 times its billion dollars a year size. it would be one of the...
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106
Jan 14, 2013
01/13
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CNBC
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governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy. the top 1% of earners, remember they pay up to half of the state's total income taxes but revenues from the rich are now harder than ever to predict. back to you guys. >> thank you, robert. let's go to michelle ka brumich >> you will have a lot more cartoons available on the kid section only and also the exclusive video streamers of the new seasons of dallas. as you can see, getting a big texas more with more than 2%. back to you, tyler. >> thank yo
governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to...
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116
Jan 18, 2013
01/13
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CSPAN2
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eye 116
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and i remembered some of the earlier deficit reduction battles we had. i voted for virtually all of them. and i was thinking what is changed since those debates? and i think there have been two major changes. number one the deficit is clearly much greater, and that's an added dimension. but secondly, the -- when i think of the ways & means committee, what a change there's been in the competition. when i joined ways & means, barbara had just left the ranking member, and he then went the world bank. i worked with bill frenzel on trade. bill archer was handling the tax material, mainly and bill was working on health care. i think a second major change that effects the debate is changing composition of the republican party. i think it has moved very much more to the right describe it from the days when i joined the committee. and i think that makes it very much more difficult to handle the problems that we have before us. so let me just comment briefly on where we are. you heard the president yesterday. we've had spending cuts of a billion and a half or tril
and i remembered some of the earlier deficit reduction battles we had. i voted for virtually all of them. and i was thinking what is changed since those debates? and i think there have been two major changes. number one the deficit is clearly much greater, and that's an added dimension. but secondly, the -- when i think of the ways & means committee, what a change there's been in the competition. when i joined ways & means, barbara had just left the ranking member, and he then went the...
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67
Jan 17, 2013
01/13
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CSPAN2
tv
eye 67
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impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer retirement than had occurred in 1995. this is a very serious issue. currently the social security retirement is a pay-as-you-go system that provides more annual benefits than the payroll tax collectors. if left alone, this eventually will lead to insolvency particularly with the rapidly increasing number of baby boomers retire in every day as was referred to by maya and louis. there isn't time today nor do i have the proven expertise to suggest specific solutions it's important that the contras and the administration analyze acceptable me
impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer...
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265
Jan 14, 2013
01/13
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FOXNEWSW
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eye 265
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the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second, about a couple of critsims. one longstanding, another more recent. the longstanding one seems to become a truism of sorts that you and your staff are too insular. that you don't socialize enough. and the second, more recent criticism that your team taking shape knit diverse, isn't as diverse as it could be or even was in terms of getting additional voices, gender, race, ethnic diversity. i would like you to address both of those. >> let me take the second one first. you know, i'm very proud in the first four years we had as di
the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second,...
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Jan 17, 2013
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that difference represents a deficit of $1.1 trillion. so you can see we are very close to being at a 60 year high in spending, and very close to being at a 60 year low in revenue. so i would say to those who say we just have a spending problem, i think you got that half right. i think we've also got a revenue problem. that needs to be addressed. let's go to the next slide if we can. the result of these deficits and debt is that we now have a gross debt that is more than 100% of our gross domestic product. you can see right in the middle of that graph, in 2012, the gross debt of the united states has now reached 104%. why does that matter? the best academic research, a book by rogoff of harvard, reinhard, the university of michigan i think she was when she did the study, look at 200 use of economic history. and concluded once you get a gross debt of more than 90% of your gross domestic product, your future economic prospects are dramatically reduced. future economic growth is reduced anywhere from 25 to 33%. so these are not just numbers
that difference represents a deficit of $1.1 trillion. so you can see we are very close to being at a 60 year high in spending, and very close to being at a 60 year low in revenue. so i would say to those who say we just have a spending problem, i think you got that half right. i think we've also got a revenue problem. that needs to be addressed. let's go to the next slide if we can. the result of these deficits and debt is that we now have a gross debt that is more than 100% of our gross...
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Jan 14, 2013
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jan 19, 2013
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cities all over the country having to scale back if they can't find the budget deficit. that's what you don't want to do this, local employment during an economic downturn. >> even the fiscal cliff to be right about now. >> this is a huge thing. justice program provides grants to law enforcement to hire more police. that program could easily be 20 or 30 times its billion dollars figure size. it would be one of the most productive things the federal government could do to make progress in this area. >> we agree 18 what the professor outlined in the latter part of what he said is to go after illegal gun market among law-abiding people. we're talking about felons on gun violence from the people engaged gun sales illegal under any interpretation of the law. and go after people with records carrying guns illegally. that's been done in cooperation with u.s. attorney in chicago. it's been reasonably good. they think the important thing is to find ways to go after criminals here. what i'm afraid we're going to do things the assault weapons magazine is to do things that have an e
cities all over the country having to scale back if they can't find the budget deficit. that's what you don't want to do this, local employment during an economic downturn. >> even the fiscal cliff to be right about now. >> this is a huge thing. justice program provides grants to law enforcement to hire more police. that program could easily be 20 or 30 times its billion dollars figure size. it would be one of the most productive things the federal government could do to make...
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Jan 18, 2013
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. >> which would put a little hole in the deficit. >> the administration does not support blowing up planets. why would we spend countless taxpayer dollars on a death star with a fundamental flaw that can be exploited by a one- man star ship, doesn't make sense. so again going up to 100,000, but with the rate people are signing up for this thing, they could get to 100,000 pretty easy. >> i think the whole idea is they didn't count on the ease of signing with the world of the internet. >> it's participate -- it's participatory. >>> the department of environmental services says the a 30-inch culprit broke at the intersection of arlington boulevard and south irving earlier this week. there may be low water pressure between 6 and 9 p.m. the county has responded to breaks this week at stafford and 16th streets south and quincy and 13th streets south as well. >>> changing temperatures may have played a role in all those water breaks. how low will they go? topper has a check of our forecast from the weather terrace. >> with clear skies and winds dying down temps will fall very quickly tonig
. >> which would put a little hole in the deficit. >> the administration does not support blowing up planets. why would we spend countless taxpayer dollars on a death star with a fundamental flaw that can be exploited by a one- man star ship, doesn't make sense. so again going up to 100,000, but with the rate people are signing up for this thing, they could get to 100,000 pretty easy. >> i think the whole idea is they didn't count on the ease of signing with the world of the...
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Jan 13, 2013
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we need to reduce the deficit. but, if we are going to grow the economy and get people back to work, we must invest in the future. i wanted to acknowledgement fact that the budget does reduce the deficit by $1.10 trillion. that is real money for most of us. and it is not easy to get there. bringing fiscal stability to the nation in 2017, her primary balance, none of this is easy. the budget does make strategic investments in the future. for many of us in our districts across the country, the focus on energy and evasion of education and infrastructure is important. every business i talked to said to me that we need, we look at, or locate incentives for innovation. do we have what we need to move our products and work force? is there an educated work force? they want to know -- and it starts with -- where is the infrastructure and advantage for innovation? i think we need to talk about that, because otherwise we're just looking at slash and burn, cut spending right now. the budget deficit commission said not a good i
we need to reduce the deficit. but, if we are going to grow the economy and get people back to work, we must invest in the future. i wanted to acknowledgement fact that the budget does reduce the deficit by $1.10 trillion. that is real money for most of us. and it is not easy to get there. bringing fiscal stability to the nation in 2017, her primary balance, none of this is easy. the budget does make strategic investments in the future. for many of us in our districts across the country, the...
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that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this problem after a while. do you think we're headed for a full stalemate? >> it's such a shame. i think david is right because we have low debt service right now. we're paying less interest on our debt than we had in the reagan and bush administrations before because interest rates are so low. >> but they're going to go up one day. >> but not for several years. i'll say it, we should be borrowing more at 30-year, 3% terms, so we can invest in the long-term growth of this economy. this is not the time for further austerity and cuts. if we were even to consider that right now, it would be
that's the smallest monthly deficit in five years. some of that is artificial. people pulling transactions forward because they were afraid of higher tax rates in 2013. but for the first three months of 2013, we have a rapidly shrinking fiscal 2013, we have a rapidly shrinking deficit. so we are in a way chasing a vanishing problem. >> which is interesting, and that would allow for some things that are dirty and things that are not so dirty, would completely perhaps get rid of this...
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the consensus is, we need about $4 trillion to stabilize our debt and our deficit. which means we need about $1.5 trillion more. the package that i offered to speaker boehner before we -- before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. and by cin
the consensus is, we need about $4 trillion to stabilize our debt and our deficit. which means we need about $1.5 trillion more. the package that i offered to speaker boehner before we -- before the new year would achieve that. we were actually fairly close in terms of arriving at that number. so if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. and by cin
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he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share prices. it also prompted the first downgrade on u.s. government bonds. global car makers are showcasing their latest model at the 2013 international auto show in detroit. more than 50 new models are on display. the u.s. automarket has been recovering with sales rising more than 13% from the previous year. japanese automakers are focusing on fuel efficient compact cars that are gaining popularity. toyota is introducing a new streamline model in an effort to attract young u.s. car makers including ford and general motors are showcasing small cars as well as small vehicles like pickup truck. pickup truc
he said he's willing to compromise on cutting the budget deficit but not in exchange for increasing the debt ceiling. the u.s. government has reached a borrowing limit set by law but republicans continue to reject an increase without spending cuts in social security and other programs. now it's not the first time the u.s. has faced such a stand off. in the summer of 2011 the government and coness mained at odds over raising the limit until the last minute. the incident weighed down on share...
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Jan 17, 2013
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from an important country to exportin
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed, and so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie collins. yeah. >> i would like to ask you now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's longstanding. another more recent. the long-standing one seems to have become a truism of sorts that you and your staff are
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that, and, you know, we can achieve it fairly quickly. we know what the numbers are. we know what needs to be done. we know what a balanced approach would take, and we've done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably...
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and the other factor, too, is we can't forget that one of the best anecdotes to a deficit is a strong, growing economy, particularly growing jobs. and so there are things we have to do to grow jobs. >> i think everybody agrees on the jobs front. anyway, senator jack reed, democrat from rhode island, the senior man when it comes to military affairs in the u.s. senate these days. thank you, sir. >> thank you. >>> up next, the presidential limo gets tagged a political punch. and the second term shuffle continues. another cabinet secretary announces his time for departure. >>> plus, former president bill clinton speaks out on secretary clinton's health and how it could affect any ambitions she might have for 2013. >>> but first, today's trivia question. how many presidents have been inaugurated in an even-numbered year? tweet me the answer, @chucktodd and @dailyrundown. the first correct answer gets a follow we say from us. the correct answer and more is coming up on t"the daily rundo " rundown." nothing. are you stealing our daughter's school supplies and taking them to work? no, i was j
and the other factor, too, is we can't forget that one of the best anecdotes to a deficit is a strong, growing economy, particularly growing jobs. and so there are things we have to do to grow jobs. >> i think everybody agrees on the jobs front. anyway, senator jack reed, democrat from rhode island, the senior man when it comes to military affairs in the u.s. senate these days. thank you, sir. >> thank you. >>> up next, the presidential limo gets tagged a political punch....
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Jan 18, 2013
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you were talking about debt and deficit and government spending 15, 20 years ago when nobody was that much focused on it in washington, but now they really are. here is a chance for you to take all you learned, what you learned on the way up, on the way down, in congress, in the governorship, and apply it to what is really the debate of our times. if you look, we're having a new fiscal crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of the iceberg that is coming our way based on unbelievable demographics and unbelievably unsustainable government spending. what i want to do is take what i learned and hopefully apply it to again a great conundrum that now exists in washington, which is how do we get our financial house in order? >> i wish you all the very best. thank you for joining me again tonight. it's a pleasure to talk to you as it was last time. i genuinely wish you well. i'm glad you're making another go at this. good luck with it. >> i appreciate it, thanks. >>> a critic who says newtown changed everything, but the nra d
you were talking about debt and deficit and government spending 15, 20 years ago when nobody was that much focused on it in washington, but now they really are. here is a chance for you to take all you learned, what you learned on the way up, on the way down, in congress, in the governorship, and apply it to what is really the debate of our times. if you look, we're having a new fiscal crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of...
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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable, over time, getting our debt in a sustainable place, then, democrats and republicans in congress will have a partner with me. we can achieve that, and we can achieve it fairly quickly. i mean we know what the numbers are. we know what needs to be done. we know what a balanced approach would take and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult. if everybody comes to the conversation with an open mind, and if we recognize that there's some things like not paying our bills that should be out of bounds. i'm going to take one last question. jackie. >> i'd like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's longstanding, another more recent. the long-standing one seems to have become a truism of sorts that you and your staff are too insular, that you
if the issue is deficit reduction, getting our deficits sustainable, over time, getting our debt in a sustainable place, then, democrats and republicans in congress will have a partner with me. we can achieve that, and we can achieve it fairly quickly. i mean we know what the numbers are. we know what needs to be done. we know what a balanced approach would take and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's...
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he promised us a fully costed deficit reduction program, but we have had nothing. he promised us proper reforms of welfare, but we have had nothing, and he promised us that he would show how he would have a new policy on tuition fees, but we have had nothing. i have audited all of the government's spending programs and i have identified one where the waste is simply appalling -- the £5 million of short money that goes to the party opposite every year -- we get nothing from it. >> the more he rants and blusters, the less convincing he is. the facts are these -- he is cutting the top rate of income tax by an average of £107,000 for everyone earning more than £1 million in britain at the same time as he is raising taxes on everyone else. what do we know from this week? we know that he is a pr man who cannot even do a relaunch. halfway through this parliament, we know that the government are incompetent, that they break their promises and that the nasty party is back. >> it is perfectly clear what has happened since the start of this year. it is this government who
he promised us a fully costed deficit reduction program, but we have had nothing. he promised us proper reforms of welfare, but we have had nothing, and he promised us that he would show how he would have a new policy on tuition fees, but we have had nothing. i have audited all of the government's spending programs and i have identified one where the waste is simply appalling -- the £5 million of short money that goes to the party opposite every year -- we get nothing from it. >> the...
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Jan 20, 2013
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there's vast support out there for balanced deficit reduction investments in education and manufacturing, immigration reform, gun safety. so on the issues the president intends to really push and focus on, there's massive support in the country even among republicans. let's not lose sight of that, and that's why we're going to do a better job in the second term-- while we're going to do all we can to work with congress and negotiate, to also make sure the american people are connected to what's going on here. i think to really get the kind of change here in washington the american people are going to demand it. but there is really, i think consensus around eye lot of the issues around the country >> what about the idea the republicans have said they will go along with the three-month extension on the debt ceiling increase? are you going to be-- does that help? >> well, it's helpful that they have now dropped their demand, that the only way they're going to pay the country's billes, they themselves racked up, would be to extract some concessions. we've got to never again have this threat
there's vast support out there for balanced deficit reduction investments in education and manufacturing, immigration reform, gun safety. so on the issues the president intends to really push and focus on, there's massive support in the country even among republicans. let's not lose sight of that, and that's why we're going to do a better job in the second term-- while we're going to do all we can to work with congress and negotiate, to also make sure the american people are connected to what's...
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. >> this is turning stuff, and the president is saying things like not to worry about the deficit. that is really for the proletarian, the more pedestrian takers among master of the deficit, the sustainable that. this is abject non says that he is doing, and he is being hailed by the national liberal media as some sort of -- some sort of articulation. >> i am one of those who is in the center, a supporter of the bowls' simpson planned and i agree with your characterization the problem is, you are offering a countervailing you. the republicans, with all due respect, are not. there is not an alternative narrative, not pushing the president to negotiate, and he is not talking to anybody. lou: i love this comment. the president saying of the second amendment is not whether we believe in the second member not. you have to literally hear this to believe it. but. >> the issue here is not whether or not we believe in the second amendment. the issue is, are there sensible steps that we can take to make sure that somebody like the individual in newtown cannot walk into a school and gun down
. >> this is turning stuff, and the president is saying things like not to worry about the deficit. that is really for the proletarian, the more pedestrian takers among master of the deficit, the sustainable that. this is abject non says that he is doing, and he is being hailed by the national liberal media as some sort of -- some sort of articulation. >> i am one of those who is in the center, a supporter of the bowls' simpson planned and i agree with your characterization the...
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it doesn't create new deficit spending. so not raising the debt ceiling is sort of like a family that's trying to improve its credit rating. families that say, i know how we can save money, we won't pay her credit card bills. it was the sole solution to the debt ceiling in august of 2011 in the u.s. downgraded last time. so all these issues are important and it's very important that congress take necessary action to raise the debt ceiling to avoid a situation where government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in a deal, it certainly went part way, but leaves a number of issues still on the table. would you care to raise that as an additional fiscal cliff that is facing us? would you think that it's not as concerning as it was when you raise that term initially? >> as i said the fiscal cliff, if it is allowed to take place, it probably would have traded a recession this year. a good bit of that has been addressed. nevertheless, we stil
it doesn't create new deficit spending. so not raising the debt ceiling is sort of like a family that's trying to improve its credit rating. families that say, i know how we can save money, we won't pay her credit card bills. it was the sole solution to the debt ceiling in august of 2011 in the u.s. downgraded last time. so all these issues are important and it's very important that congress take necessary action to raise the debt ceiling to avoid a situation where government doesn't pay its...